Vroom (VRM) Discontinues E-commerce Used Vehicle Operations
VRMVroom(VRM) Zacks Investment Research·2024-01-25 22:25

Vroom, Inc. (VRM) announced that it is discontinuing its e-commerce operations and shutting down its used vehicle dealership business to preserve liquidity and optimize stakeholder value. Vroom is a parent company of CarStory and Unites Auto Credit Corporation (“UACC”). Both CarStory and UACC will keep serving third-party customers. The company is suspending transactions through vroom.com as per the Value Maximization Plan approved by its board of directors. It plans to sell its current used vehicle invento ...